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And I have been pleased to fulfill them and honored to welcome them. Chairman Leahy. Also, as my last inquiry, in some of the testimony today there has been a recommendation that, certainly, simply with all the thousands of billions, trillions of dollars all set to invest, you must simply go elsewhere.


Stenger. I would tell you that in this environment the capacity to raise resources for things we are doing would certainly have-- it is difficult to do so in a fashion that would certainly permit us as successfully and as rapidly develop things we have done. You can borrow cash if you have actually got 50 percent down.


I can have obtained half of that if I had the $12 million in cash to install. Everybody understands that, yes, financial institutions have cash to finance as long as you have actually got fifty percent of it in your pocket before you request the other half. That is not just how company functions these days.

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You are talking from a real-world experience, not from a think container experience. I will certainly leave that simply as a gratuitous remark from the Chairman. Senator Grassley. Legislator Grassley. Thanks. I intend to be accountable in this issue of undocumented employees. I wish to confess that we only have unscientific info, however I wish to ask you to what degree you need to go or do go to make certain that the centers see to it that the investments do not create work for individuals right here unlawfully.


Mr. Stenger. Legislator, I am a hands-on owner of a service, and I am on-property every day. We have actually employed-- as I stated, at the Top we had 550 construction workers on our project. The marching orders that I provided to my group is that we are to work with local business in nearly every circumstances to do every one of the construction.


They are made up of 10, 15, 20, 30 staff members. They are benefiting straight from the financial investment. I know the employees, I understand their family members, and we have actually been able to utilize-- through these last 3 years of dreadful economic turmoil, we have been able to use virtually every building and construction employee in our area and the bordering counties.

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They are spent in the areas, and they are all U.S. workers. Legislator Grassley. Mr. Stenger.


Thank you. Mr. North, along the same lines of the concern I asked him, has your study shown examples other-- and I only provided one instance, so I intend to admit that and be responsible concerning it-- of centers working with undocumented individuals? Mr. North. That kind of information is really tough to get from USCIS, and I need to say that what we do learn about a number of the internal aspects of that company as far as this program is click here concerned connects to instances in which the team has stated no to an application of some kind and afterwards the regional facility or the individual entrepreneur has actually gone to the Administrative Appeals Office-- which becomes part of the company-- and there we get papers, we get a hearing policeman telling us what is going on in that specific case.




This is a bad application." There is a quantity of poor applications out there, yet only as soon as that procedure gets before an administrative law court do we see much in the means of information. Currently, there was one situation that you discussed, and allow me simply specify on that a little.

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Mr - EB5 Regional Center Program. North. The milk ranch had claimed 17 employees, and they obtained into it, and the court found that 16 of them were illegals.


Okay. I am going to ask different inquiries of each of the 3 of you, yet it handles this one concern. As I said in my opening statement, I am concerned about the prospective loophole that permits capitalists to withdraw their investment in local centers after receiving their eco-friendly card.


Divine, are you conscious of any instances in which an investor took out the financial investment and left right away after getting an eco-friendly card? And if you are, or if you think it is a trouble, do you assume that it is a technicality that should be shut? Mr. Divine. I would certainly claim that a lot of the investors, if you inquired what are their objectives, they would say, "I wish to obtain a permit, and I wish to maintain it.


If I put my money in a hotel growth-- Senator Grassley. Can I assume then that you are claiming that there does not require to be any modifications made because respect? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Let me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his/her financial investment instantly after getting an eco-friendly card? Mr.

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Senator, no. Our programs require that the capitalist be spent for a minimum of 5 years and be repaid only if business is in a setting to do so at the end of that time. We have the benefit of the resources to produce the organization, get it running, make it effective, guarantee that the work will certainly be produced and maintained, and then only if the business is effective will certainly there be an exit strategy for the investor.